Solved

In 2019, Isabella Sold Several Shares of Different Stocks Held

Question 34

Multiple Choice

In 2019, Isabella sold several shares of different stocks held for investment.The following is a summary of her capital transactions for the year:  Stock  Purchased  Sold  Selling Price  Cost ABC02/15/1907/15/19$2,200$1,750DEF10/25/1208/01/193,5002,300GHI10/25/1912/15/198001,000JKL12/28/1312/18/19750900\begin{array}{lrrrr}\underline{\text { Stock }}&\underline{\text { Purchased }} &\underline{\text { Sold }}&\underline{ \text { Selling Price }} &\underline{\text { Cost }}\\\mathrm{ABC} &02 / 15 / 19 &07 / 15 / 19 & \$ 2,200 & \$ 1,750 \\\mathrm{DEF} & 10 / 25 / 12 & 08 / 01 / 19 & 3,500 & 2,300 \\\mathrm{GHI} & 10 / 25 / 19 & 12 / 15 / 19 & 800 & 1,000 \\\mathrm{JKL} & 12 / 28 / 13 & 12 / 18 / 19 & 750 & 900\end{array}
What is the amount of Isabella's net capital gains or losses for 2019?


A) $1,300 long-term capital gain
B) $850 long-term capital gain and $450 short-term capital gain
C) $1,050 long-term capital loss and $250 short-term capital loss
D) $1,050 long-term capital gain and $250 short-term capital gain

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions